Section 8 in higher crime areas?

[Matthew Mucker]

What are people's thoughts about buying and renting out a quadplex to section 8 tenants in a not-so-nice part of town?

This would be my first investment property. All of my upper middle class friends and relatives are telling me to run, but I think I have the temparment and the risk tolerance for a project of this type.

The plan would be to get a hard money loan for acquisition and rehab, then refi to a more conventional loan and get section 8 tenants.

Using the 2% rule and 50% maintenance rule, I think I can make the numbers work out quite well. I'm just pretty ignorant about the in's and out's of rentals on the wrong side of the tracks and would like any feedback y'all might have.